Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Swift Touts Eagle Ford Drilling Techniques, Extends Development
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Swift Energy Company reported a net loss for the fourth quarter of 2013 of $41.8 million, or $0.96 per diluted share, which includes a non-cash ceiling test write-down of its oil and gas properties of $73.9 million (pre-tax).
Net income before write-down of oil and gas properties for the fourth quarter 2013 is $5.8 million, or $0.13 per diluted share, a decrease of 48% compared to net income of $11.2 million ($0.26 per diluted share) earned in the same quarter in 2012.
For the full year 2013, Swift Energy had a loss of $19.0 million, or $0.44 per diluted share, which includes a non-cash ceiling test write-down of its oil and gas properties of $73.9 million (pre-tax). Net income before write-down of oil and gas properties for the full year 2013 is $28.6 million, or $0.66 per diluted share…
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